General Motors is betting big on Michigan. The US automaker will invest $7 billion in four manufacturing facilities.
This news confirms the rumours we reported earlier this month and last week.
In addition, Michigan will become the hub for GM’s EV development and manufacturing.
GM said on Tuesday its investment includes spending $2.6 billion to build a new battery factory with LG Energy Solutions in the Lansing area.
In addition, they will spend $4 billion to convert its existing factory in Orion Township to produce EV pickups.
They are also investing half a billion dollars in upgrading two existing vehicle plants in Lansing to produce EVs.
In addition to the investment announcements, GM announced that the Orion assembly plant, Factory ZERO and Hamtramck will manufacture the 2024 Silverado EV and GMC Sierra EV pickups.
The move is the single largest investment by GM in its history. The investment will retain 1,000 jobs in the state while creating an additional 4,000 jobs, according to the Detroit Free Press.
Michigan also bet on GM and offered the company numerous tax breaks and incentives to make the state its hub for manufacturing. This does not come as a surprise, as the state recently lost out on an $11 billion investment by Ford, who chose to invest in factories in Kentucky and Tennessee instead of Michigan.